Global Pectin Market: Market Outlook
Pectin which is a carbohydrate in the cell wall of plants is mainly derived from citrus fruits like berries, oranges, apples, and lemons. It is at first insoluble and can be changed over to solvent by warming in acidic media. Pectin structures as a gel when broken up in water under certain appropriate conditions. Its gelling properties have been known throughout with being industrially accessible in a powdered structure, which is commonly light brown or white in color. Owing to its gelling properties, it is generally utilized as a stabilizing and thickening agent especially in jams and jams, transforming them from a syrupy texture to a spreadable surface. Additionally, they are blended in other fruit product items like pastries, bakery items, yogurts, and juices. Pectin also has applications for industrial and pharmaceutical applications for wound healing preparations.
The soaring working population has shown an inclination towards convenience food also with the change in lifestyle fresh cooking has gone down with positive impact on convenience food thus surging need for pectin which forms an essential ingredient for many convenience healthy food. With millennials looking for healthy food without compromising on the mouthfeel, pectin furnishes this demand as it is known to improve the mouthfeel along with enhancing texture in food items.
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Global Pectin Market: Market Dynamics
Pectin acts as a fat replacer benefitting health thus driving growth for the market
With the change in the lifestyle, there has been a rise in obesity and many cardiovascular diseases among the population. Pectin can act as a great fat replacer which has the properties of making products healthier with reduced sugar, reduced fats, and calories, and enriched with fibers. With the increasing number of diet-conscious customers looking for alternatives to reduce fats and calories in their diet, pectin as an ingredient in such products can prove to be a healthy replacement thus driving growth for it.
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Global Pectin Market Segmentation
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Global Pectin Market Key Players
The key players operating in the pectin market are Cargill, Incorporated, DuPont de Nemours, Inc, Ingredion Incorporated, CP Kelco, Silvateam, Ceamsa, B.&V.SRL, NATUREX, DSM, Haisheng Group, Lucid Colloids Ltd., and others.
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Global Pectin Market: Opportunities
Pectin has applications in the food industry in various bakery, dairy, confectionery, dessert, food products along with like pharmaceuticals, cosmetic and industrial applications hence can be used for different applications in food as well as the non-food industry which increases the opportunity for the manufacturers to diversify their offering in different industries. With the increasing number of consumers being inclined towards vegan diet, the demand for plant-based ingredients and products is increasing, proving to be beneficial for the existing manufacturers involved in the production of pectin. The increasing population along with increasing awareness for clean ingredients builds an opportunity for other manufacturers to enter the production for pectin.
Global Pectin Market Regional Outlook
The demand for functional dairy and convenience food is high in Europe and thus pectin which is a plant-based alternative ingredient for many such food items is witnessing increased demand in Europe followed by America where awareness among consumers regarding health-beneficial products is high. Asia-Pacific may prove to be the fastest-growing region for pectin with increasing awareness and increased consumer spending for healthy convenience and functional food.
COVID-19 Impact on Pectin Market
The economy is expected to witness a global recession in the coming year owing to the pandemic with effects on the food industry as well. The spread of COVID-19 has upended the food supply operations affecting the growth of pectin market. With the outburst disrupting the production capacity of manufacturers producing convenience and dairy food products the demand for pectin may be negatively impacted for the next year. The imbalance in demand-supply dynamics with the spread of COVID-19 may moderately influence the market for pectin in the upcoming year.